Have you ever heard of Bitax Coin? It is a new cryptocurrency which has been launched recently without calling much attention to itself. Our guide will explain to you whether to invest in Bitax Coin or not.
What Is BitaxCoin?
The company has been in creation since October 2017 and it was launched recently. It uses an open source blockchain and it promises to give cutting-edge technology to its users. The tokens of the company can be used primarily for P2P transactions like the ones you can make to buy goods and to lend them to the company and get profit from the lending program.
In fact, the lending program seems to be the main feature of the company, which does not seem to have many distinguishable features. The company explains in its page that Bitax Coin is “just like Bitcoin yet unlike Bitcoin” meaning that it has similar uses to cryptocurrency but also its own features like the lending program that we just told you about.
BitaxCoin ICO Details
During the ICO, Bitax Coins were sold from $0.45 to $0.95 USD, but unfortunately, the ICO was already finished when we heard about this token. The total supply of tokens are 18,000,000 Bitax Coins and half of that was sold on the ICO.
If you are really keen on investing in Bitax Coin, you can buy it on online exchanges, but the price of the tokens will be more than $1 USD per token.
BitaxCoin Blockchain Lending Crypto Program
The main feature of Bitax Coin is the lending program. This program acts in a way that is very alike to the way that the High Yield Investment Programs (HYIPs) act: you lend some money to the company and then you will be able to receive it back with interest rates after some time. The more money you lend, the more money you get later (and quicker).
Anything above an investment of $1,000 USD will get you a special bonus per day (more than the 46% monthly that all the options have) and you will receive your money in less than 200 days. If you invest more than $50,000 USD, you will receive 46% monthly plus 0.45% daily and your money back in 69 days.
You can store your Bitax Coin in the Bitax Wallet after you bought them. The wallet will be compatible with Windows, Mac and with Android and iOS in the future when the mobile platform is finally launched.
You can withdraw your funds from your wallet whenever you want after having at least 50 Bitax Coins in your wallet. The Bitax Wallet can also be used to exchange your money for BTC and ETH and to send money elsewhere or pay for services online (but not offline).
Bitax Coin does not seem very noteworthy at all. As cryptocurrencies go, this is one of the most standard and generic models that you can find: a crypto which is based on a lending program which does not have a lot of chances of succeeding. The best course of action is to ignore this token and look elsewhere for another one that can really pick your interest an be more unique.